Rex Energy: Production Up 66% in 2014, New Drilling Area in 2015

January 21, 2015

Rex Energy, the little energy company that could (and does) successfully drill in the Marcellus and Utica Shale, announced in December that they would reduce their drilling budget in the Marcellus by 44% in 2015 (see Rex Energy Reduces 2015 Marcellus/Utica Drilling Budget by 44%). Yesterday the company released an operational update for 2014 that shows production was up 66% in 2014 over 2013 numbers. Fourth quarter production numbers were up 15% over third quarter. In addition, Rex has begun drilling a series of Marcellus wells in a new area of Butler County, what they call the Moraine East Area. They plan to drill drill 10 to 16 wells in the Moraine East Area and complete 4 to 10 wells in 2015. Here’s the rundown from Rex for what happened in 2014, and what they intend to do in 2015…